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FOX Business
May 5, 2013 1:00am EDT
to everybody. john, stocks racing, but the economy stalling? >> yes. that is exactly the point. look, you said the stocks are on fire. they have been on fire. there is obviously a disconnect. the economy, you can not say, no one will say the last three years has been on fire. with the fed pumping money, with zero interest rates, the rich get richer, the poor get poor. we have the highest poverty rate -- more people in poverty in the history of our country. we're seeing the market take off. there is a huge disconnect between the two and that's not going to change with the lowest labor force participation rate, consumer driving 70% of the economy. >> susan, there are some good things out there, right? the housing market has found its foundation. we did have a solid jobs report and we had high revisions for the last couple of months. so is main street feeling this, too, or is it all wall street? >> no, it's starting to get better. people have been eulogizing this economy for months and it's just not as bad -- >> that's a big word. [ laughter ] >> and it's just not as bad as people are saying it i
May 5, 2013 12:00pm PDT
it's not a real magic secret here. if the growth rate of the economy is going to be only a little above 2%, the unemployment rate is not going to come down very fast. we are just not going to generate this type of job growth or faster than this on a sustained basis and that's what we need to do. >> are we stuck here with a jobless rate that ticking down sometimes but not falling? >> so we've taken a big step towards a better outcome. i'm encouraged by friday's jobs report. we created jobs, unemployment is coming down for the right reasons. this is an important step. it's not the whole thing. we still have the head winds coming from washington. we still have slow growth, but it tells me that the underlying economy continues to heal and that's good news. i wish it were healing quicker, but it's definitely healing. >> i see a lot of retail jobs here, leisure and hospitality. i think it's great consumers feel confident enough to go to the mall or the strip mall. note many of those jobs will pay enough and put a kid through college. what is the quality of jobs? >> when you start coming
May 5, 2013 7:30pm EDT
on the risks to the global economy. what britain's former prime minister says is europe's biggest problem. and what it means on this side of the pond. >>> plus, diamonds are a business's best friend. i'll talk to the ceo of the largest online jewelry retailer about confidence, customization and the competition's prices. "on the money" begins right now. >> announcer: this is america's number one financial news program, "on the money." now maria bartiromo. >> here's a look at what's making news as we head into a new week. the stock market touching new highs. the dow jones industrial average broke past the record, 15,000 mark, for the first time ever on friday. also recorded highs for the s&p and the nasdaq composite. investors were moved by better than expected monthly jobs report. the unemployment rate stands at 7.5% in the united states. that is the lowest number since december of 2008. and a total of 165,000 new jobs were created in the month of april. that was better than expectations. the federal reserve will continue purchasing $85 billion a month meanwhile of treasury securities and
May 4, 2013 6:30am PDT
's not a real magic secret here, if the growth rate of the economy is going to be only a little above 2%, the unemployment rate is not going to come down very fast. we're not going to generate this kind of job growth faster than this on a sustained basis and that's what we need to do. >> mohammed, are we stuck here, mohamed el erian with a jobless rate ticking down sometimes but not falling? >> so we've taken a big step towards a better outcome. i'm actually quite encouraged by friday's jobs report. if you look at the last three months we've created 212,000 jobs, long-term unemployment is coming down, like you said the unemployment rate is coming down for the right reasons. so this is an important step. it's not the whole thing, and we still have the head winds coming from washington, we still have slow growth but it tells me that the underlying economy continues to heal, and that's good news. i wish it were healing quicker, but it's definitely healing. >> austan, let me ask you about the quality of the jobs coming back. i see retail jobs and leisure and hospitality, it's great consumer
May 3, 2013 3:00pm PDT
. they are studying the evolution of specialization as they uncover details of ancient economies around the world. in the maya city of copan, a jeweler fashioned rare shell and jade for his powerful lord. in mexico, living artisans echo the economy of a vanished civilization. and in teotihuacan, evidence of mass production has now been unearthed. tiny faces of clay reflect the men and women who made them a thousand years ago. on the other side of the world, in the ancient roman city of ostia, huge merchant ships were part of an economy much like our own. and today, the tanners of morocco still practice their ancient craft, living proof that economies have evolved out of the past. everyone who has ever lived has been part of an economic system. iel bote pesos! economic systems are simply the ways people produce, distribute and consume things -- everything and anything, from tortillas to stocks and bonds. for 10,000, 10,000 an eighth. today, as in the past, economic systems lie at the heart of how a society is organized. archaeologists search for these systems because they believe econ
May 4, 2013 12:00pm PDT
in the regional economy and again there is so much business activity. and we are blessed with just being in this part of the country and the world. i'm very interested in what we are going to hear from our speakers this morning to sort off guide us through this year. now before we get to our program please join me in thanking the organizations and people who made this possible. and you can clap now for awful them but -- this event is jointly presented by san francisco business times and our partner, title sponsor corn irand carey commercial new mark, night, frank. and we are going it hear from dan clef man and dan class man some 14 year ago really came up with this idea, we sat down over lunch and there was another person involved allen cline knelt and which came up with this idea and so i have to give dan much much credit for that. (applause). . very much so. and in 2012, cornish and carey, dominated the area of commercial real estate with over $6 billion in leasing and sales transactions so very good there. and you are soon going to hear from dan and he is going to give us that a go
FOX Business
May 3, 2013 10:00pm EDT
unable to find one. >> we have to get this economy going, and not raising tax rates to have more peopl working we could do would it not for the drag of the president's health care law. >> their use in the jobs report to sage to and the sequester cuts and the president spoke of more government spending on both sides of the border. >> with remember every dollar that we invest in research and development concerns such march are economy with jobs and opportunity and products. >> a soft spot for the president is used and a planet with the new jobs report showing the effect of an employee rate for young people if you include those looking for work that has given up a 16% the highest level since world war two. >> are generation is graduating college with this desire and passion to make a difference coming into an economy was stagnant with no limit -- new jobs in their the opportunity. >> the rnc chairman criticized the media and the president for not bringing up the jobs at the a news conference on tuesday although officials say in the weeks ahead the president will be traveling around the u.
May 2, 2013 6:00am PDT
dissatisfaction. >> reporter: malaysians have watched the economy boom. across the capitol city, there is a frantic contradiction. they're snapping up penthouses even before they're built. consumption is up despite a hike in prices over the last decade. and the healthy economy is encouraging malaysians to buy. >> translator: i plan to spend about $170 on clothes today. >> translator: the government's developing because goods are getting more expensive. >> reporter: despite rapid economy growth there are still plenty of people who feel aggrieved. mohammed zarahi is an ethic malay. he works as a motorcycle courier in kuala lumpur. he says the policy hasn't helped him because he has no political connections. he earns 560 u.s. dollars a month. zahari's wife workings as well, pulling in a total household income up to $1,000. that's 60% national average. he always dreamed of buying a home for his family, but rising prices have put a damper on his plans. >> translator: people like me, we have to spend extra carefully. it's not fair. >> reporter: politicians on both sides have promised
FOX News
May 6, 2013 1:00pm PDT
was better than expect. hit the president for not mentioning jobs and the economy in his news press conference last tuesday which was dominated by national security issues. jay carney earlier today saying, look, the president realized that while this was a decent jobs report he needs to talk up the economy and jobs a bit more. >> we're in a situation now where, on friday, we had another month of private sector job creation. we had numbers that exceeded some expectations but by no means were what we need in the end to get where we want to go, which is where the president always said. as long is a there's one looking for a job and can't get one, he will keep working. >> now, the republicans already offering sort of a prebuttal to the president's road show that starts in texas on tuesday. speaker john boehner's office saying the road trip could be a great at any time for the president to acknowledge his policies are stifling growth and it's time to unleash our economic -- growth. and here's the other thing if you look at what is going on. the the president is hitting the road because w
May 4, 2013 11:00am PDT
.s. recovery at risk if the sequester stays in place? or can the u.s. economy absorb all this? diane is the chief economist for mesro financial. diane, let me start with you. the jobs report friday, 165,000 jobs created. unemployment rate 7.5%. did you see evidence of the sequester jobs report? >> very little evidence. the part we started to see was federal jobs did outpace the loss in state and local jobs and that's completely the reverse of what we saw last year, so now you're seeing the federal government become the headwind as the state and local government cuts. that's bad news that we're losing federal jobs in terms of overall jobs number. and the sequester, it cascades over time. it's not something -- the sky is falling is not how the sequester worked. we'll see these effects multiply as we move into these next couple months. >> we're starting to see these one after another. we talked about head start, meals on wheels, faa, the flight delays. but here's what liberals say. liberals say that budget cuts and this newfound budget religion is just a way for conservatives to gut the
May 4, 2013 11:20pm EDT
. it is hosted by tavis smiley. join us sunday at 10:30 a.m. eastern here on c-span. >> the u.s. economy created 165,000 in april and push the unemployment rate since late 2008. hear us to discuss the latest job numbers is ylan mui. tell us about the direction you saw from washington and wall street on these numbers. are they about what folks were expecting westmark -- were expecting? guest: it was better than what people were expecting. 88,000 jobs created in the month of march. that is nowhere near the level we need in order to see the recovery take off. host: the numbers that we sought yesterday really were a sign that the recovery is tugging along. .t is still going along it does not at the level we would like to see that yet. the labor department also revived the figures for the previous two months. that is just as important for the increase in april. in the month of march, 88,000 that many people were worried about is now 130,000. significantly higher. the recovery is plugging along. host: here is a blog post yesterday. blog post from alan krueger, the chairman of the white house council o
May 2, 2013 12:00am PDT
of the world's leading financial and political news sources, there are several facing, concerns u.s. economy, tepid growth and europe and the slowing chinese economy, gillian tett is an assistant editor and columnist, she was previously u.s. managing editor, martin dickson is the current u.s. managing editor and been with the paper since 19 1976. i am very pleased to have all of them here at this table on this very auspicious birthday, welcome. great to see all of you. 125 years, and what is represented here is how many years did i tell you when we sat down. >> well, more than 18 years, we don't look 18 but that is the fact collectively and i have done 28. >> >> rose: how did this begin? >> well, 1888, a man called mr. marks, who was originally, he set up a newspaper called financial news in 1884, 1884, 1888 next came the financial times and these two battled it out until 1946, then they merged to form the modern financial times, and of course this newspaper was launched at the pinnacle of power of the city of london in the late 19th century. >> rose: to reflect on that power and cover that
May 7, 2013 12:00am PDT
the purchasing power to go and keep the economy going. you cannot have a strong economy without a strong and growing middle class. tavis: i am not naive been asking this question, but louis brandeis once said you can either have the will concentrate in the hands of a few, or you can have democracy, but you cannot have both. that is becoming more and more, to your point, the way the country is run, the way the deck is stacked, and yet there is not a lot of conversation about it, what is it going to take for us to have a real conversation about income inequality, could you cannot sustain a democracy this way long term? >> you also cannot sustain an economy long term. even the rich would do better with a smaller share of a rapidly growing economy in a society that was not as divisive as we are now, than they are now with the very large share of an economy that is barely growing because the middle class doesn't have that purchasing power, and it is increasingly divided. thatit takes, the parallel is most revealing is 1901 when we had, again, a wide divide between rich and poor prevent corrup
Apr 30, 2013 7:00pm PDT
. why do you say that, and what does that mean? >> well, it means that the u.s. economy and indeed the global economy outside of europe continues to show reasonable signs of growth. you know, and stock investors are terrified about the removal of support by the fed, you know, the withdrawal of monetary accommodation. and it's something that always causes enormous amounts of volatility and consternation when it happens. but, remember, when that happens, it's typically because the economy is growing reasonably, at a reasonably good clip. this is sub-par growth by the standards of past recoveries to be sure, but it is growth and it is durable. so i think that the stock market is not overvalued by any means. i think it's reasonable to expect a pause and a direction. but that isn't something that would keep me on the sidelines. >> let me ask you something about this wall street legend that they say fell in may and go away. i think the statistics go back to world war ii saying that if you sell your stocks in may and then come back in october and re-buy, that you will do better. given the
May 2, 2013 4:00am EDT
numbers, seemans is lowering profit guidance. >>> the italian economy will shrink more than expected and they vow to put growth top of the agenda at the next eu summit. >>> hsbc's final pmi reading down from its flash estimate, signaling demand for good from mainland factories. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >> all right. good morning to us from the. it's ecb date and we kick off with the latest manufacturing data out of the eurozone. >> which was starting to look okay. bouncing off the bottom until germany came in less than expected. >> 46.7. the flash is 46.5, but it's weaker than the march 46.8. the bottom line is it's better than a flash by the basis point, actually, it's still getting worse. >> new orders index is a touch better. the market is likely to interpret -- at this point, people are looking for excuses to buy. they like that we're moving from austerity to a stimulus stance. this will help. if this were a little stronger, i would almost argue that they wouldn't need to be quite aggressive here today,
May 2, 2013 7:00pm PDT
on the economy. now he's adding another issue to his agenda. he wants to revise the constitution which marks its 66th anniversary on friday. in particular, abe is eyeing a redefinition of the country's defense forces. japanese are divided over whether the constitution should be changed at all. nhk world junio yatsumoto explains. >> reporter: prime minister shinzo abe has waited for years to revise japan's constitution. he and his ruling democratic party have kept that goal in sight since they took power last december. >> translator: it is prime minister abe's belief that we need to change the constitution for assembling an independent nation state. >> reporter: the constitution was written after world war ii. the u.s.-led allied forces controlled its drafting. the most significant characteristic is pacifism. article ix says the japanese people forever renounce war. it red japan to maintain armed forces exclusively for defense. the liberal democrats want to upgrade the status of the self-defense forces to a military force. >> translator: in japan, the sdf is not called a military, but it's treate
May 1, 2013 4:00am PDT
as to how the economy is doing vis-a-vis small businesses, they being of course the backbone of our economy. let's take a look at the numbers for april. michael alter, is the ceo and president of surepayroll. to me it sounds like a willie nelson song: "stuck in neutral again..." - unfortunately we are seeing more of the same. we are seeing payrolls flat month-over-month; we're seeing a slight decrease in the hiring, the number of folks on the payroll; we are really just seeing more of the same. - we do see optimism at least in the upper 60s. that is relatively high, and it is up about 10% in the last two months. - right. it's consistent with the last two months, and we are certainly trending up from where we were. i think what we are really seeing from a small business owner's perspective is a little bit of a jobless recovery. our clients are telling us that they're seeing some revenue growth in their businesses, but fortunately for them they're seeing productivity growth at a greater level than their revenue growth. so they are able to grow their margins a little bit by not having to hire
May 1, 2013 4:30pm PDT
policy and calls out congress for weakening the economy. we'll talk with former fed governor randy cross. >>> testing, testing. with five months to go, will the state's new health exchanges be up and running in time for open enrollment. this is "nightly business report" for wednesday, may 1st. tyler, the calendar changed and so did investor sentiment. >> the old saying sell in may, go away. did wring true on wall street. stocks fell sharply on more evidence of a slowdown in economic recovery. nasdaq fell 29. sfrp & p 500 down 14. big driver for today's sell-off. disappointing data on jobs, specifically the payroll firm adp reported 119,000 private sector jobs remember created, far less than what economist's expected. march's numbers revise downward as well. causing concern about friday's big government report on payrolls and jobs. the institute for supply management's read on u.s. manufacturing in april showed modest growth, but dropped to the slowest rate of growth so far this year and construction spending during march fell 2%, largely because of a pullback on government spending. >> m
May 3, 2013 6:00am PDT
so much for being with me. i'm carol costello, a glimmer of good news on the economy. and a glint of hope for americans searching for a job. minutes ago, we learned 165,000 jobs created in april. that is better -- better than expected and it pushes the jobless rate down slightly. ever so slightly to 7.5%. that's the best rate by the way since december 2008. cnn's business guru, christine romans joins us from new york to parse the numbers. should we be doing the happy dance? >> i think we should, and quite frankly, stock futures are up. you could see records of the open if this holds. could be a record morning for stocks, watching 1,600. and here is why. for the first time in a long time, the jobless rate falls, and not because people are leaving the labor market, but people keep getting jobs, what the chart looks like for job reaction for the year. february and march were much better than expected, in february, carol, 332,000 jobs were created. the labor market is revising its numbers and stronger in february than we thought. march, thought it was 88,000, now 130,000. in april, 65
May 3, 2013 7:00am EDT
and the account me -- on the economy. joining us is ben casselman. the way for being with us. let's begin with a recent story you posted about americans leaving the workforce. what is happening? guest: this is been a trend we have been watching for quite a while now which is the labor force. that is feeble either working or looking for work. it has been trending. it is actually now, the share of the population is at its lowest level since 1979. so it is both ineffective recession but also a longer- term trend that we have been watching for a while now. host: what are the factors in all of this? short-termave a issue in a long-term issue. the short-term is the one we are too familiar with right now. which is that the economy has been week, job growth has been slow, so a lot of the people who want jobs have been giving up looking. they have been dropping out of the labor force and no longer searching for work. that is a major factor. but we also have this longer- term issue, which is that the share of the population that is working have actually been declining since about 2000. there are a
May 8, 2013 5:00pm EDT
the training they need to ac sell in today's economy -- excel in today's economy. giving more flexibility to the pell grant program would help ensure success for hardworking students simply looking to get ahead. thank you, mr. speaker, and i do yield back. the speaker pro tempore: the gentlelady yields back the balance of her time. the chair now recognizes the gentleman from illinois. or what purpose do you rise? without objection, the gentleman is recognized for one minute. >> mr. speaker, i rise today in recognition of national nurses week and to support one of the most important nurses i know, my wife, shannon. shannon is a mother to our three children and has been a nurse for 18 years. she now teaches our next generation of nurses in springfield, illinois, at st. john's college. it's important for to us recognize the more than 3.1 million nurses across this great country. mr. davis: they are truly the backbone of our nation's hospitals, clinics and doctors offices. i know firsthand that nurses work every day to ensure that their patients are receiving the quality care they need and de
FOX Business
Apr 30, 2013 8:00pm EDT
, if it holds, the economy's friend, our friend, we hepit continues. -- we hope it continues, it is the single biggest investment most of us will make. it appears to be paying off. but it will continue to pay off? does that mean that the rest of the economy followed? let's ask real estate expert dotty her man and scott martin, dotty? >> it's a go, i was here two months ago, i said it was great. i said it is doing better. i think we said a lot of foreigners we saw, now we're seeing more and more americans, they are able to move up as their equity moves up. neil: you said it would be better or something? >> i said it would be better. you don't' it to be a bubble. you don't' it to go up 20%. neil: yes, i do, that is what i want. >> no you don't. that is how we get in trouble. neil: my house has been reduced to the value o of a drive-thru stuckey's. what do you think? >> i follow stuckeys, i am from mountain view, new mexico, the fed is pumping the economy with liquidity making the rates lower. neil: they have been doing that for a long time, what is the magic. >> there is no magic,. we have to li
May 8, 2013 4:00am EDT
and get their views on what the future holds for the country's biggest economies. and find out what i was told about the social emergency at 10:40 cet. and it's been voted one of the top 100 ipads apps and one of three travel apps you should never leave town without. we'll speak to the co-founder of hotel tonight and find out what the san francisco based company's plans are. plus, sales look flat for the big global brewers. find out how smaller competitors are getting crafty. who writes this stuff? plus, we've got upbeat trade data from the world's second biggest economy. china's exports beat forecasts by a wide margin up 14.7% in april from a year ago. economists were looking for a rise around 10%. imports were also higher than expected up nearly 17%. that's helped china return to a trade surplus in april after an unexpected deficit in march. many analysts are skeptical of the data. exports have been overinflate ing invoices. thanks for joining us. how much do we question this data because the exports to hong kong and taiwan do look overly strong. >> that's right. the exports to the
FOX Business
May 5, 2013 1:30am EDT
the growth of our economy. >> sequestration, which has already kicked in, will get worse. >> there is only one way to truly fix the sequester, by replacing it before it causes further damage. >> so much for the further down. so much for any damage. glad to have you. i'm neil cavuto. the economy apparently laughing in the face of all that sequestration devastation. those $85 million in automatic spending cuts, not cutting into the job market. not by a long shot. the government reporting 165,000 jobs are added in april. get this, the two prior months were revised to show 100,000 more americans working than originally reported. so what to make of that sequestration once again, especially since we didn't see any obamanation at all. ben stein, dagen mcdowell, adam, charles payne, what do you think? >> neil, look, it's about time, really before we start, someone in washington needs to start reminding americans how great this country is. every time i see these, it's like we're the 80 pound weak ling. the last thing that will hurt us is the government having fiscal restraint. you want to talk abou
May 2, 2013 6:30pm PDT
the economy out of recession. we will have reaction from frankfurt in a moment. >> all that fresh cash going into circulation will be including some old denominations with a new look. >> as of today, the eurozone has better money. the new 5-year-old bill has into circulation after a big promotional campaign touting the bank notes security features, and so that more of the improve money gets to where it is needed, which is the people of southern europe, the european central bank has cut its main interest rate. that is to supply and grow crisis-hit economies with more and cheaper liquidity. >> weak economic sentiment has extended into spring of this year. the cut in interest rates should contribute to support prospects for a recovery later in the year. >> but analysts do not expect much of an effect. they point out the ecb has been slashing interest rates for years, and there is not much further they can go. since the start of the financial crisis, eurozone interest rates have fallen steadily to a new all-time low. mario druggie also extended another program introduced during the crisis. the e
May 2, 2013 3:00pm EDT
the fundamentals growth in this economy. but a lot of this market, we are led to believe, is because of what the fed is doing, to get to 18,000, do you need the fed to hold its policy as low as possible over that next two-year period? >> well, i think that they will. and i think that's partially important. but i think we're going to come to a point where the economy can kind of move on its own, sustain itself. i think the most important thing here, bill, that's not being stated enough, it's not just the liquidity that the fed is providing, it's the transparency. i've never seen a market where you remove entirely monetary uncertainty. that's extremely bullish for the market from a psychological and technical standpoint. >> rick santelli, what'd you make. ecb today? we were expecting some kind of stimulus or at least a suggestion that the ecb is going to be there. and that's what we got. >> yeah, no. i think that the european markets definitely in the last several days pretty much demanded the move that mario gr draghi delivered on. i think that the biggest issue today has something to do with
May 5, 2013 8:00pm EDT
a massive keynesian state, as i call it, dedicated to stimulating and boosting and propping the economy. as a result of that, we have a $1 trillion deficit, both sides are dug in, everybody knows this cannot last. it is dangerous rolling down the road, and yet, the system has a serious inability to make compromises, to find packages that you can assemble a governing majority, so it was 1981limited scope issue in to 1985 when i was there, but at large, the lesson from that time is what the clear and present danger is today. our fiscal process is paralyzed, dysfunctional, broken, and that is what i call the budget a doomsday machine, something that is going to roll on, and no one can seem to stop it. >> 34 years old though. director. is there a personal residual, where some still do not like you because of what happened? >> i am sure there are, because it is the one got -- one job in government -- there is no other place in our government where the buck stops, where choices priorities set. the agencies are advocates. the congressional process is divided into dozens and dozens who often be
Search Results 0 to 49 of about 972 (some duplicates have been removed)